The biggest news in the tech industry this week, Elon Musk buys Twitter for $44bn. The purchase is being labelled ‘the overhaul to the internet economy‘ as Musk’s business strategy gives him a unique ability to move markets.
In a statement announcing the deal, Musk said “Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated. I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spambots, and authenticating all humans”.
- In a bid to rein in illegal content, platforms like Facebook and Google must follow new bans under the Digital Services act ruled by EU or face multibillion-euro fines.
- On May 9th, Meta will debut its first IRL store near its Reality Labs headquarters. The store will allow customers to test Portal, Ray-Ban Stories, and Quest 2.
- Agricoo, is an urban farming start-up with a mission to build a healthier and more responsible food system. Producing sustainable fruits and vegetables (year-round), locally within cities. Available in-store, delivery, and local restaurants.
- Instagram introduces new creator-focused features to credit originality and creativity. Including product tags, enhanced tags and ranking for originality.
- Coachella and Fortnite collaborate through skins and the in-game radio, to reimagine festival fashion and give performing musicians more online exposure.
- The BeReal unedited photo-sharing app, created in 2019 by former GoPro employee, climbs the charts as Gen Z pushes popularity.
- YouScan analysed over a billion posts to deliver key social media trends, focusing on branded content to learn which brands are gaining traction.